Trump raises tariffs to 15% on imports from all countries

• The US has already collected at least $130 billion in tariffs under the struck-down IEEPA authority, with studies showing 90% of costs have been passed to American consumers
• The 15% tariff includes exemptions for critical minerals, metals, pharmaceuticals, and USMCA-compliant goods from Canada and Mexico, while separate industry-specific tariffs on steel, aluminum, lumber and autos remain in place
• International leaders including German Chancellor Merz and French President Macron criticized the move, with Merz warning that 'the biggest poison for the economies of Europe and the US is this constant uncertainty about tariffs'

Trump Raises Tariffs to 15% on All Imports Following Supreme Court Ruling

Key Developments

President Donald Trump announced an immediate increase in tariffs from 10% to 15% on imports from all countries, less than 24 hours after the Supreme Court struck down his flagship trade policy as unconstitutional. The 6-3 ruling determined Trump exceeded his authority under the International Emergency Economic Powers Act (IEEPA) without congressional approval.

Legal Mechanism and Timeline

Trump invoked Section 122 of the Trade Act of 1974—never previously used—which permits a 15% levy for 150 days before requiring congressional approval. While Trump claimed "immediate" implementation, a White House proclamation indicated the tariffs would take effect at 12:01 AM ET on Tuesday, February 24, 2026. The law could face legal challenges.

Exemptions and Existing Tariffs

Critical minerals, metals, pharmaceuticals, and USMCA-compliant goods from Canada and Mexico are exempt. Separate industry-specific tariffs on steel, aluminum, lumber, and autos remain unaffected by the Supreme Court ruling.

Financial Impact

The US has collected at least $130 billion in tariffs under IEEPA, with studies showing 90% of costs borne by US businesses and consumers. Top US business associations are seeking refunds, though Trump indicated reimbursements would require lengthy legal battles.

International Response

German Chancellor Friedrich Merz plans to visit Washington with a coordinated European position, warning that "constant uncertainty" about tariffs harms economies. French President Emmanuel Macron called for "reciprocity" rather than unilateral decisions. The British Chamber of Commerce criticized the increase as "bad for trade" and damaging to global economic growth.